SMI –3rd December 2013 – Market View

Posted By : Kishore B.S

Friends,

We expect the market to open negative, because the US markets fell marginally, while Asian market are trading flat. SGX Nifty also indicates a negative open.

We would still recommend to go long on Nifty and Bank Nifty if you see any small correction in the morning session, keeping a revised stop loss of 6130 and 6080 and a target of 6250 and 6280.

Stock to watch is Power Grid which is coming out with a FPO which is commencing today.

The Pharma and IT stocks have bounced back in yesterday’s session. We would suggest to wait and watch these two sectors. If you are looking for investments our bet would be on Sun Pharma and TCS.

Cheers  !!

Team SMI

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